Government Decision: A great news has come for the people of Noida-Greater Noida, who have been waiting for years for getting a house and registration. They will start getting the registry of houses within three months. Uttar Pradesh government has ordered to register the flats within 90 days. People who had bought houses here were agitating for a long time. He had gone to Jantar Mantar and staged a protest a few days ago.
Flat owners who have gone to court will have to wait
The UP government, in its order given on Thursday, said that apart from the flat owners who have gone to the court, registration of all the flat owners should be done within 90 days. About 2.3 lakh flats in Noida are still awaiting registration. Out of these, about 1.2 lakh flat cases have gone to NCLT or Supreme Court for one reason or the other. According to officials, people have started living in most of the remaining 1.1 lakh flats. Also many are nearing completion. These will be registered first.
13 recommendations of Amitabh Kant report implemented
Recently the state cabinet had approved this decision. Former NITI Aayog member Amitabh Kant had recently presented a report on the stuck project. The UP government had decided to implement 13 recommendations of this report. Under this, developers taking advantage of interest rate relaxation will have to pay 25 percent of the rescheduled amount within 60 days. After this, Noida Authority will start the approval process within 15 days.
If the project is not completed within three years, 20 percent fine
However, if the value of the registry is more than 25 percent of the total outstanding, the developer will have to pay more money. The remaining 75 percent amount will have to be paid within 1 to 3 years. If the developer does not complete the project within three years, he will be fined 20 percent of the outstanding amount. Such developers can also be blacklisted for 5 years.
46 months of interest and penalty will be removed
Developers have got a big relief from the government's decision. 46 months of interest and penalty will be waived off from them. According to the new instructions, all developers affected by Covid-19 will get exemption from April 2020 to March 2022. Apart from this, Noida Authority will take the decision on the developers affected by the ban on construction work by the Green Tribunal around Okhla Bird Sanctuary.
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